Young rich lister Alistair Champion sells Bellevue Hill house for $8 million

Young rich lister Alistair Champion and his wife Kate have scored an impressive windfall on their Bellevue Hill home, selling it for about $8 million.

The sale comes just four years after they bought the Hamptons-inspired residence for $5.4 million. Sources say they have spent little on it since then.

The co-founder of Laser Clinics – who ranked 14th on this year’s Financial Review Young Rich List – listed the Bellevue Hill home quietly with a handful of agents for $8 million to $8.5 million following his September purchase of the Woollahra trophy home, Icilus.

Their new Woollahra home – bought for about $13.5 million from mining licence owners and restaurateurs Brendan and Rowena McPherson – marks a steady rise up the ranks of Sydney’s prestige market since the couple bought their first home in Paddington in 2010 for $1,645,000.

In 2013 – just one year before Champion made his debut on the Young Rich List aged 37 – he and Kate sold in Paddington for $1.77 million to buy the $5.4 million home of derivatives trader Jim Clody. 

The six-bedroom house on Victoria Road had been previously owned by Seven’s commercial director Bruce McWilliam and his wife Nicky, who sold to the Clodys in 2007 for $5 million.

In 2015, the Champions added a $7 million beachfront weekender in Palm Beach to their portfolio. 

The Champions’ purchase of the Victorian Italianate residence for about $13.5 million is the highest sale in the Woollahra-Paddington area this year.

It coincides with the sale of Laser Clinics to private equity giant KKR for about $600 million.